MORTGAGE SERVICING RIGHTS (Tables)

3 Months Ended

Mar. 31, 2022

Transfers and Servicing [Abstract]

Presentation of Activity Related to MSR

The following tables present activity related to MSR and Interests in MSR for the three months ended March 31, 2022 and 2021:  

Mortgage Servicing Rights	Three Months Ended
	March 31, 2022		March 31, 2021
	(dollars in thousands)
Fair value, beginning of period	$	544,562	$	100,895
Purchases (1)	421,012		—
Change in fair value due to:
Changes in valuation inputs or assumptions (2)	158,963		27,673
Other changes, including realization of expected cash flows	(15,600)		(15,488)
Fair value, end of period	$	1,108,937	$	113,080
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable. (2) Principally represents changes in discount rates and prepayment speed inputs used in valuation model, primarily due to changes in interest rates.

Interests in MSR	Three Months Ended
	March 31, 2022
	(dollars in thousands)
Beginning balance	$	69,316
Purchases (1)	4,913
Gain (loss) included in net income	11,424
Ending balance March 31, 2022	$	85,653
(1) Includes adjustments to original purchase price from early payoffs, defaults, or loans that were delivered but were deemed to not be acceptable.